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Charting the course of XRP


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Interesting article. In it they classify XRP as a currency network together with LTC and not as a utility network.
Their argument is that a utility coin does not need value so it probably will not have any.
Another thing they write is the common misconception (or partly true but not the goal):
" and very little value in networks that are misleadingly marketed and not even required for use within their own network (such as XRP)."

Without bringing back the entire 2018 discussion again, I disagree with the point. Correct, Ripplenet does not need XRP to communicate. Yes, it does need XRP to settle instantly.

Lets call it an utility currency [emoji56]


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I was participating undercover :).  The trolls became too overwhelming while XRP was in the dumps, I figure its safe to come out again.

These threads are being derailed by childish banter, could you please keep things on topic and move your chit chat elsewhere. The forum is becoming less interesting for many of us.

I really don’t understand why the forum has been getting so heated lately when we are doing SO WELL after YEARS of being in the gutter. You’d think everybody would be saying hello, good morning, how a

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Only Thursday, but the Weekly (starts Mon on my graphs) ODL volume is holding up well - real shame that the tanking price is not supported at a higher level - this would have been the perfect week for xrp to show how it can resist the pull of BTC (TL;DR - it can't obviously!). We need an announcement from ripple that amazon, uber and apple are going all in on ODL ...

459222369_Screenshotfrom2020-03-1217-32-23.thumb.png.d4489924a95bd49de7b8ba9957e161f3.png

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That was fun.  It's nice to see stocks, bonds, commodities and cryptos all crashing at the same time, works wonders for my net worth :wacko:.

As for the chart, I had to refer back to the old broadening wedge pattern to see if we broke out of it and, amazingly, we stayed within.  My working hypothesis here is that if we break below $0.137, then its down into oblivion.  If we stay within the pattern, then I guess we could be OK technically going forward.  On the RSI, I think it would be apparent that we are as oversold as we have almost ever been.  But the same applies for the S&P500 and I'm not sure we are going to see a rebound anytime soon.

My guess is more pain ahead and I'm happy to be dead wrong about that.

XsnTWKUj

 

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12 minutes ago, Molten said:

That was fun.  It's nice to see stocks, bonds, commodities and cryptos all crashing at the same time, works wonders for my net worth :wacko:.

As for the chart, I had to refer back to the old broadening wedge pattern to see if we broke out of it and, amazingly, we stayed within.  My working hypothesis here is that if we break below $0.137, then its down into oblivion.  If we stay within the pattern, then I guess we could be OK technically going forward.  On the RSI, I think it would be apparent that we are as oversold as we have almost ever been.  But the same applies for the S&P500 and I'm not sure we are going to see a rebound anytime soon.

My guess is more pain ahead and I'm happy to be dead wrong about that.

XsnTWKUj

 

I think we are only seeing the tip of the corona iceberg, and I have no idea how this will play out with stocks and crypto.  

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4 hours ago, jbjnr said:

Only Thursday, but the Weekly (starts Mon on my graphs) ODL volume is holding up well - real shame that the tanking price is not supported at a higher level - this would have been the perfect week for xrp to show how it can resist the pull of BTC (TL;DR - it can't obviously!). We need an announcement from ripple that amazon, uber and apple are going all in on ODL ...

459222369_Screenshotfrom2020-03-1217-32-23.thumb.png.d4489924a95bd49de7b8ba9957e161f3.png

where did that graph come from - not seen it before

 

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9 hours ago, kanaas said:


ODL ramping up increases massive XRP trades and those sales are pulling the price down

All other crypto being dragged to the bottom following their natural born leader XRP [emoji3]

 

24 minutes ago, AlejoMoreno said:

I wonder if this has any effect on ODL as the drawdown continues.
 

For Bitcoin if the price doesn’t require by halving that’s going to put some real stress on miners I imagine.

I believe ODL actually stabilizes the XRP price to a greater extent. Because order books are operating on both sides, it dampens the sell pressure, maybe not too much but so much so that among the top 5 cryptos XRP is the one with the least amount of losses in percentage terms today.

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35 minutes ago, ed1 said:

 

I believe ODL actually stabilizes the XRP price to a greater extent. Because order books are operating on both sides, it dampens the sell pressure, maybe not too much but so much so that among the top 5 cryptos XRP is the one with the least amount of losses in percentage terms today.

I don’t think ODL dampens sell pressure. In your scenario why would it not dampen buy pressure?

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40 minutes ago, AlejoMoreno said:

I don’t think ODL dampens sell pressure. In your scenario why would it not dampen buy pressure?

it dampens both sides because it creates a deeper market..but since there is no net buy pressure right now, i mentioned the sell pressure part.

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